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Here's how to ace Saving for College.

Coverdell Education Savings Account

tax-free growth for Michigan members

Start planning for education expenses.

Certificate of Deposit
Make your money work harder for you with a higher interest rate.

Savings at the head of the class

Paying for education requires a smart savings strategy, and Credit Union ONE's Coverdell Education Savings Account gets high marks. And it's not just for college planning. Use this tax-advantaged account for any level of school, whether your student is attending school in Michigan or somewhere beyond. Our Coverdell Education Savings Account can help you build up savings over several years, all at interest rates that work in your favor because of our credit union's not-for-profit status. Be sure to consult your tax advisor for all the details about tax implications.
Open a Coverdell Education Savings Account today.
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  • Designated beneficiary (child) must be under the age of 18
  • Contributors may be individuals (parent, grandparent, aunt, uncle, etc.) or entities (non-individuals)
  • Individual contributors must meet certain income thresholds based on Modified Adjusted Gross Income (MAGI)
  • For entities (non-individuals), MAGI doesn't apply
  • Consult your tax advisor
  • Annual after-tax contribution of up to $2,000 per designated beneficiary under the age of 18
  • Beneficiaries with special needs may receive funding contributions after age 18
  • IRS penalty-free distributions for: primary, secondary, technical, college, or post-graduate education expenses for the designated beneficiary*

Withdrawals may have additional penalties. Always consult your tax advisor.